The World Bank has issued a fraud alert warning Nigerians against a ‘cooperative’ scheme being promoted in the name of the global financial institution.

In a statement made available to our correspondent by the Bank’s spokesperson, Olufunke Olufon, on Monday, the Bank said it had no hand in the “fraudulent scheme.”

It said, “The World Bank’s attention has been drawn to a fraudulent multi-purpose, co-operative scheme being advertised in some local communities within Nigeria.

“Several correspondences targeting innocent citizens are being circulated falsely claiming that the World Bank is giving out money to individuals to do business and demanding processing fees of N1,000 from prospective awardees.

“Please note that the World Bank is not behind this multi-purpose scheme. The World Bank does not request personal financial information for applicants to its programmes.”

Olufon added, “The World Bank therefore advises the general public to verify any information regarding World Bank-assisted programmes offered by the Bank on its website.

“The World Bank will not be held responsible for any refunds of fees solicited by fraudsters purporting to act on its behalf.”